81 FR 59247 - Submission for OMB Review; Comment Request

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 81, Issue 167 (August 29, 2016)

The National Credit Union Administration (NCUA) will be submitting the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, Public Law 104-13, on or after the date of publication of this notice.

[Federal Register Volume 81, Number 167 (Monday, August 29, 2016)]
[Notices]
[Pages 59247-59248]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-20649]


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NATIONAL CREDIT UNION ADMINISTRATION


Submission for OMB Review; Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice.

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SUMMARY: The National Credit Union Administration (NCUA) will be 
submitting the following information collection requests to the Office 
of Management and Budget (OMB) for review and clearance in accordance 
with the Paperwork Reduction Act of 1995, Public Law 104-13, on or 
after the date of publication of this notice.

DATES: Comments should be received on or before September 28, 2016 to 
be assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
NCUA, New Executive Office Building, Room 10235, Washington, DC 20503, 
or email at [email protected] and (2) NCUA PRA Clearance 
Officer, 1775 Duke Street, Alexandria, VA 22314, Suite 5067, or email 
at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by emailing [email protected] or viewing the entire 
information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION:
    OMB Number: 3133-0004.
    Type of Review: Revision of a previously approved collection.
    Title: NCUA Call Report and Profile.
    Form: NCUA Forms 5300 and 4501A.
    Abstract: NCUA Form 5300, Call Report, is used to file quarterly 
financial and statistical data and NCUA Form 4501A, Credit Union 
Profile, is used to obtain non-financial data relevant to regulation 
and supervision such as the names of senior management and volunteer 
officials, and are reported through NCUA's on-line portal, Credit 
Unions Online. This information collection is being revised to remove 
data elements associated with the reporting of Credit Union Service 
Organizations (CUSO). In early 2016, reporting of CUSOs was conducted 
separately from the Call Report and Profile through the new CUSO 
Registry portal (OMB No. 3133-0149). To eliminate duplicate reporting 
and reduce the burden associated with this collection, NCUA is removing 
the CUSO identification section from the Call Report and reporting of 
CUSO usage from the Profile.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Annual Burden Hours: 144,504.
    OMB Number: 3133-0032.

[[Page 59248]]

    Type of Review: Extension of a previously approved collection.
    Title: Records Preservation, 12 CFR part 749.
    Abstract: Part 749 requires all federally insured credit unions 
(FICUs) to maintain a records preservation program. The program must be 
in writing and include a schedule for the storage and destruction of 
records and emergency contact information for employees, officials, 
regulatory offices, and vendors used to support vital records. The 
records preservation program requirement enables FICUs to reconstruct 
their vital records in the event records are destroyed by a catastrophe 
and facilitates restoration of vital member services.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Annual Burden Hours: 12,074.
    OMB Number: 3133-0059.
    Type of Review: Extension of a previously approved collection.
    Title: Supervisory Committee Audits and Verifications, 12 CFR part 
715.
    Abstract: Part 715 prescribes the responsibilities of the 
supervisory committee to obtain an audit of the credit union and 
verification of member accounts. A supervisory committee audit is 
required at least once every calendar year covering the period since 
the last audit and to conduct a verification of members' accounts not 
less frequently than once every two years. The information is used by 
both the credit union and the NCUA to ensure through audit testing that 
the credit union's assets, liabilities, equity, income, and expenses 
exist, are properly valued, controlled and meet ownership, disclosure 
and classification requirements of sound financial reporting.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Annual Burden Hours: 38,693.
    OMB Number: 3133-0114.
    Type of Review: Extension of a previously approved collection.
    Title: Payments on Shares by Public Units and Nonmembers.
    Abstract: Under Sec.  701.32, a Federal Credit Union may receive 
from public units and political subdivisions (as defined in Sec.  
754.1) and nonmember credit unions, payments on shares. Limitations on 
nonmember and public unit deposits in federally insured credit unions 
is 20 percent of their shares or $3 million, whichever is greater. The 
information collection requirements is for those credit unions seeking 
an exemption from the nonmember deposit limit must adopt a specific 
written plan concerning the intended use of those shares and submit 
along with their lending and investment policies to the NCUA Regional 
Director. NCUA uses this information to determine whether or not a 
particular credit union will be granted an exemption to the limit on 
nonmember and public unit deposits.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Annual Burden Hours: 82.
    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on August 24, 2016.

    Dated: August 24, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-20649 Filed 8-26-16; 8:45 am]
BILLING CODE 7535-01-P